GFM Network News

Viterra books lower first-half revenues for Glencore

“Average” crops and lower prices on the Prairies in the first half of 2016 led to results “substantially below” those in the year-earlier period for Viterra’s Canadian operations. Viterra’s owner, Swiss commodity mining/marketing firm Glencore, on Wednesday reported a nine per cent drop in revenues across its global agricultural products business, from $10.74 billion in […] Read more

B.C. pension funds to get piece of Glencore ag unit

The investment firm for British Columbia’s public-sector pension funds is set to buy just under 10 per cent of the agricultural arm of commodities firm Glencore. Swiss-based Glencore announced Thursday it has a “definitive” deal to sell 9.99 per cent of its “Glencore Agri” business for US$624.9 million cash to the B.C. Investment Management Corp. […] Read more

CPP reported in talks for stake in Glencore agribusiness

Reuters — Commodity trading and mining firm Glencore is in advanced talks to sell a stake in its agricultural business to the Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported, citing people familiar with the matter. The CPPIB would take a stake of up to 40 per cent, valuing the business at […] Read more

Saskatchewan farmland off limits for pension plans next month

Reuters/Staff — New rules for buying farmland in Saskatchewan, Canada’s biggest wheat- and canola-growing province, will take effect Jan. 4, and toughen its ban on pension plans investing, the provincial government said Monday. The changes make more explicit an existing ban on pension plans and trusts from buying land and continue to limit purchases of […] Read more